DANVERS, Mass., Nov. 16, 2012 (GLOBE NEWSWIRE) -- Abiomed, Inc. (Nasdaq:ABMD),
a leading provider of breakthrough heart support technologies, today announced
that a purported class action complaint was filed on November 16, 2012 in the
United States District Court for the District of Massachusetts by Karse Simon
and Arlene Simon, on behalf of themselves and persons or entities that
purchased or acquired Abiomed's securities between August 5, 2011 and October
31, 2012, against Abiomed, Michael R. Minogue, Abiomed's Chairman, President
and Chief Executive Officer and Robert L. Bowen, Abiomed's Chief Financial
Officer.
The complaint claims that Abiomed and Messrs. Minogue and Bowen violated
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5
promulgated thereunder in connection with alleged disclosures related to the
Food and Drug Administration and the marketing and labeling of Abiomed's
Impella 2.5 product. The plaintiffs seek a jury trial.
Abiomed has reviewed the complaint and believes that the allegations are
without merit. Abiomed plans to vigorously defend itself against the
allegations. Abiomed's policy is not to discuss pending litigation.
ABOUT ABIOMED
Based in Danvers, Massachusetts, Abiomed, Inc., is a leading provider of
medical devices that provide circulatory support. Our products are designed to
enable the heart to rest by improving blood flow and/or performing the pumping
of the heart. For additional information please visit: www.abiomed.com
The Abiomed logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13564
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements, including statements
regarding the Company's intent to purchase shares of common stock and the
Company's future outlook. The Company's actual results may differ materially
from those anticipated in these forward-looking statements based upon a number
of factors, including uncertainties associated with development, testing and
related regulatory approvals, including anticipated future losses, complex
manufacturing, high quality requirements, dependence on limited sources of
supply, competition, technological change, government regulation, future
capital needs and uncertainty of additional financing, and other risks and
challenges detailed in the Company's filings with the Securities and Exchange
Commission, including the most recently filed Annual Report on Form 10-K and
quarterly report on Form 10-Q. Readers are cautioned not to place undue
reliance on any forward-looking statements, which speak only as of the date of
this release. The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements that may be made
to reflect events or circumstances that occur after the date of this release
or to reflect the occurrence of unanticipated events.
CONTACT: For further information please contact:
Susie Lisa, CFA
Senior Director, Investor Relations and Corporate Development
978-646-1590
slisa@abiomed.com
Aimee Genzler
Corporate Communications Manager
978-646-1553
ir@abiomed.com